Although it is well known that appearance-based impressions affect labor market and election outcomes, little is known about the role appearance plays in financial transactions. We address this question using photographs of potential borrowers from a peer-to-peer lending site. Consistent with...

Although it is well known that appearance-based impressions affect labor market and election outcomes, little is known about the role appearance plays in financial transactions. We address this question using photographs of potential borrowers from a peer-to-peer lending site. Consistent with...

Peer-to-peer (P2P) lending emerged as an early innovation of the fintech revolution. As an online platform, it has served as a marketplace to allocate capital from a group of individual lenders to retail borrowers without a traditional intermediary, such as a bank. The initial promise of P2P...

Existing evidence suggests that the Sarbanes-Oxley Act (SOX) may be beneficial to U.S. investors, but that foreign firms are perhaps less likely to list in the U.S. after SOX. This raises the question of whether foreign firms avoid listing in the U.S. after SOX because the Act imposes...

This study examines empirically whether individuals consider their perceptions of potential counterparties' trustworthiness when deciding to transact in an environment with extensive contract enforcement mechanisms. This is a non-trivial empirical question because, as observed by Carlin,...